The demand for foreign exchange (FX) at the Investors and Exporters (I&E) market weakened the value of the Naira at the end of last week.
On Friday Nigerian currency value dropped by 25 Kobo or 0.05 percent against the US Dollar to N461.50/$1 compared with the previous day’s N461.25/$1.
The FMDQ Securities Exchange reported that forex trades at the official market stood at $96.81 million, with traders bidding the Naira to the greenback as high as N462.00/$1 and as low as N440.00/$1 during the session.
However, the exchange rate of the local currency to its US counterpart remained unchanged yesterday at N760/$1 in the Peer-2-Peer (P2P) window of the market
